Tesla’s stock price is down 30% per year. Is Elon Musk responsible for the collapse of the U.S. stock market for electric car manufacturers?
On Monday, however, Tesla is expected to record its biggest one-day percentage increase since November 6 – if Trump wins the U.S. presidential election – if current earnings are held. Stocks soared after Trump was elected in November, hoping it would be easier for Tesla to launch robots under the new administration.
In early March, Tesla stock witnessed its worst day in four and a half years.
JPMorgan lowered its target target for Tesla stock as brokers are expected to deliver lower for the second consecutive year, and analysts also pointed to changes in sentiment towards electric vehicle manufacturers by existing customers and potential new buyers.
The agent said the reaction to brands, such as protests at Tesla stores in the U.S. and around the world, sales boycotts and abandonment of vehicles already purchased on the second-hand market.
JPMorgan Chase also lowered its price target for electric vehicle maker stocks from $135 to $120. According to LSEG data, the stock’s median target is $370. Tesla is expected to deliver about 1.78 million vehicles this year, down about 1% from 2024, the broker said. According to Reuters, Donald Trump appoints Musk to lead efforts to lower the federal government, which has thousands of workers in state capital.
Trump has hired Musk to lead a working group called the Department of Government Efficiency (DOGE), which has so far overseen more than 100,000 jobs in the federal civilian workforce of more than 2 million people. Doge also pushed for the freeze of foreign aid and the cancellation of thousands of programs and contracts.
FAQ
Q1. Who is the President of the United States?
A1. The president of the United States is Donald Trump.
Q2. Who is Tesla?
A2. Tesla is led by Elon Musk.
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